We all know about insurance and how it can protect us from financial disasters. Car insurance helps finance repairs or replacements in the event of a car crash. Home insurance can cover the cost of fire and flooding. But there are other forms of insurance you may not be aware of. Did you know that car insurance doesn’t cover all motor vehicles? For another mode of transport, you would need van insurance or Thailand motorbike insurance specifically. You can also take out insurance on loved ones, whether they are human or animal! In this article, we’ll talk about a few types of insurance that you may not have been aware of until now.
Pet Insurance: If you have a beloved pet, pet insurance can be just as important as your own health insurance. Depending on your pet, medicines, surgeries, and vet visits can quickly add up, and pet insurance can help you control those costs, provide you with affordable medication for your pet, and help you find and deliver expensive but life-saving treatments pay. In the event of illness or death of your pet or loss or theft of your pet, you may reimburse animal insurance. Unlike health insurance, pet insurance reimburses you for the costs (such as property insurance) as opposed to immediate payment and deciding what to insure and what should not be covered at the time of treatment. It’s not for everyone, but if your pet means the world to you, you should think about it.
GAP Insurance: If you prefer new cars to used cars, the thrill of being the first seat sitter can be worn quickly if you have an accident, or if you suddenly need to resell this car for less than you need. This is where the GAP Guarantee (Guaranteed Auto Protection) comes into play. It is precisely the gap between the vehicle worth and the amount you owe on it. So, if you need to sell it or get an insurance payment and the amount of your car is less than what you owe, you have insurance to cover the rest.
Life Insurance: A life insurance is strictly insurance that covers you and can repay you in the course of your entire life. So, although it is possible to pay to your loved ones, you can also use the life insurance in recent years to cover medical expenses or can be borrowed. Strictly speaking, most people do not need that. The return on your investment in life insurance is terrible (though not worse than many other traditional solutions), and your money can be better served elsewhere. However, do your homework, talk to your life insurer and see if it suits you.
Travel Insurance: Travel insurance is often considered a life-saving resource in the event of a severe problem during your vacation or overseas trip. It can offer money to replace lost or stolen baggage, cover medical expenses while you’re abroad, or even help you book transportation if your original travel plans are cancelled, or you miss a flight. The problem with travel insurance is that it almost always doubles the coverage you already have. Before you pay your travel insurance, you should make sure that your health insurance does not already provide medical care abroad.
However, some insurance companies only cover a single trip while companies like Coverwise offer insurance policies for frequent travellers.
Supplementary Insurance: The additional insurance should overcome the shortcomings of your traditional insurance plans. It can pay bills, rent, mortgage costs, even shopping if you are waiting for a payment from another insurance company. The supplemental insurance may also cover additional costs that do not include your usual policies, such as other costs for expensive treatments, cancer treatments, surgeries, etc. The problem with supplemental insurance is that even if it sounds appealing, you may not need it and you may feel safe, you spend money on better investments or rescues in an emergency becomes.